MetLife Investment Management LLC Buys 4,375 Shares of Citigroup Inc. (NYSE:C)

by · The Markets Daily

MetLife Investment Management LLC raised its stake in Citigroup Inc. (NYSE:C – Free Report) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,613 shares of the company’s stock after buying an additional 4,375 shares during the period. MetLife Investment Management LLC’s holdings in Citigroup were worth $35,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in Citigroup by 3.4% during the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock worth $24,844,000 after acquiring an additional 11,674 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after purchasing an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. increased its holdings in Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after purchasing an additional 20,000 shares during the period. Invesco Ltd. raised its position in Citigroup by 13.8% during the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock worth $1,143,633,000 after purchasing an additional 1,970,300 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its holdings in Citigroup by 168.7% during the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after buying an additional 12,280 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

C has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.61.

View Our Latest Report on Citigroup

Insider Transactions at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Citigroup Trading Up 1.8 %

NYSE C opened at $63.23 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The business has a fifty day simple moving average of $71.12 and a 200 day simple moving average of $70.98. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The firm has a market capitalization of $119.01 billion, a P/E ratio of 10.63, a PEG ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C – Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. On average, analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.54%. Citigroup’s dividend payout ratio (DPR) is currently 35.39%.

Citigroup declared that its board has approved a share repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Citigroup Profile

(Free Report)

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.

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